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Nov 16, 2012
11/12
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don't call in sick, and they make it clear they're walking off because they are protesting the work environment there at walmart where they don't feel they're being heard appropriately, are they likely to be fired? >> we want to listen to them. we want to hear whatever their concerns are. you know, not with a union representative there. they've been to our home offices. we want to sit down and listen to them, but they don't want to do that. every circumstance is going to be different on black friday. we'll take them on a case by case basis. >> we hope you can figure this out. thank you, david. >> thanks for having me on. >>> we are counting down to the bell. let's take a look at what the dow is up to. we have been all over the place today. at this stage, we're moving up by 0.3%. that's 37 points. >> i've heard the bias on the close is to the up side, to the buy side. we'll see if that holds. apple shares have lost a quarter of its value in the past two months alone. when we come back, we'll look at if this is the ultimate bargain or ultimate value trap in talking numbers. >>> plus, delta is res
don't call in sick, and they make it clear they're walking off because they are protesting the work environment there at walmart where they don't feel they're being heard appropriately, are they likely to be fired? >> we want to listen to them. we want to hear whatever their concerns are. you know, not with a union representative there. they've been to our home offices. we want to sit down and listen to them, but they don't want to do that. every circumstance is going to be different on...
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Nov 15, 2012
11/12
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based on what we think the macroeconomic environment is going to do. >> so you were at that meeting at the white house this week. you joined a number of ceos at the white house yesterday. did the president give you hope that layoffs can be avoided at aetna? how was that meeting? >> i thought the meeting was a very constructive, very frank and open dialogue. i was impressed with the level and the grasp of the issues that the president had and his willingness to listen to american business about the ways that we needed to solve this problem. i think there is is a path to get this done. it's not going to get all done before the end of the year. but i think our message to the president was we're here to support you if you can avoid the cliff and put together a very specific framework on how we're going to get the economy going. because going over the cliff creates more joblessness. and if we can avoid that, we still don't grow the economy in 2013, so we need to show the business community, and quite frankly, all americans, that we have a plan to deal with this deficit so that we can grow e
based on what we think the macroeconomic environment is going to do. >> so you were at that meeting at the white house this week. you joined a number of ceos at the white house yesterday. did the president give you hope that layoffs can be avoided at aetna? how was that meeting? >> i thought the meeting was a very constructive, very frank and open dialogue. i was impressed with the level and the grasp of the issues that the president had and his willingness to listen to american...
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Nov 14, 2012
11/12
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we're talking about a high regulatory environment. who the heck knows what happens over the near term on the fiscal cliff. is it more prudent to stay on the sidelines? you want to look for specific situations? >> let's assume they're in. they're not traders. we're an advisory conference. they're in the market. i think to sell here, to just get nervous, panic, see what's on the news and to throw it in is not prudent. we're coming into thanksgiving. you have good seasonality. i think we get a lift. when we get a lift, if you are this person who says i need to take some risk off the table, that's when you do it. so if you're looking to go into 2013 and you are uncertain, as i am, i think we have a lot fourth go down. so if you're a trader, i think you can trade this to the up side. if you're a longer term investor, you get a pop, you take some off the table and you re-evaluate like in six months. >> that's the strategy. wait for a gain so you're not selling out at the bottom here. >> i think selling in the red today is not prudent. >> ok
we're talking about a high regulatory environment. who the heck knows what happens over the near term on the fiscal cliff. is it more prudent to stay on the sidelines? you want to look for specific situations? >> let's assume they're in. they're not traders. we're an advisory conference. they're in the market. i think to sell here, to just get nervous, panic, see what's on the news and to throw it in is not prudent. we're coming into thanksgiving. you have good seasonality. i think we get...
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Nov 16, 2012
11/12
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is the environment todayyee i f still a good place to in more or less friendly? >> there is no compare ton. when mr. putin came in, he changed the tax code which made a huge difference.ie ton. when mr. putin came in, he changed the tax code which made a huge difference. it was 13% flat tax, corporation tax 24% and suddenly you couldn't invest in companies because could you understand what was in the financials of the company. so accounting firms grew. advisory firms grew and the market became a much better place to invest. so today i don't believe there is a huge difference. you just have to understand the environment. >> so does it create opportunities? if you're looking around the world and not seeing a lot of attractive places, should russia be one of them? >> russia should be. it's growing at 4%. it's the biggest consumer market in europe. so there is enormous amount of opportunity. the problem has been and continues to be the perception western investors have about investing there. so there is this sort of idea that if you invest in russia, you'll lose your
is the environment todayyee i f still a good place to in more or less friendly? >> there is no compare ton. when mr. putin came in, he changed the tax code which made a huge difference.ie ton. when mr. putin came in, he changed the tax code which made a huge difference. it was 13% flat tax, corporation tax 24% and suddenly you couldn't invest in companies because could you understand what was in the financials of the company. so accounting firms grew. advisory firms grew and the market...
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Nov 12, 2012
11/12
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that is a real scoop in an environment where there are no deals, david brought us a very good scoop. >> that's why you haven't participated in any of this. there are no other deals. this was the only one. >> not many needles in the hay stack. >> david found the only one. thank you for bringing it here, david. boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about shipping right now, from i-phones to apparel, cnbc's senior talent producer, lori ann larocco, our staff, incredible producer and her book "dynasties of the sea," and lori ann, reading through this, we know how important shipping is, we talk about it every day but there were things i didn't realize how much of the things in our homes are brought to us from ships. >> 92% of everything in a household has been on a ship and ever since superstorm sandy we've all realized how important shipping is as we're all going through this gasoline crisis. it's really amazing in terms of the wide breadth that the shipping industry has on the econ
that is a real scoop in an environment where there are no deals, david brought us a very good scoop. >> that's why you haven't participated in any of this. there are no other deals. this was the only one. >> not many needles in the hay stack. >> david found the only one. thank you for bringing it here, david. boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about...
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Nov 16, 2012
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dell says a challenging macro economic environment is continuing into the current quarter. >>> schiff nutrition is the subject of a bidding war between two players, it had previously agreed to be bought by bayer. >>> hostess is expected to announce if it's going to go ahead with plans to liquidate, this is something it's been threatening to do if striking workers didn't return. hostess is operating under bankruptcy protection and we've been watching that closely. on a global report, there are reports out of israel, two hamas rockets have hit southern tel aviv, landed in an open field and reports say they did not cause any damage but this comes after a night of air strikes by israel against hamas in the gaza strip and we are watching that situation closely as well. joe? >> cnbc is making the push to rise above and yesterday former wyoming senator, alan simpson and the simpson of simpson-bowles spoke to cnbc and pretty much laid out our campaign. >> the leaders of both parties who think it would be to their advantage to go off the fiscal cliff. what a wonderful trait that is, that we co
dell says a challenging macro economic environment is continuing into the current quarter. >>> schiff nutrition is the subject of a bidding war between two players, it had previously agreed to be bought by bayer. >>> hostess is expected to announce if it's going to go ahead with plans to liquidate, this is something it's been threatening to do if striking workers didn't return. hostess is operating under bankruptcy protection and we've been watching that closely. on a global...
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Nov 19, 2012
11/12
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on the back of -- you know, just positive improvement in environment for the financials overall. steve saying that -- of the financials bank of america has the most eps leverage to bounce back in this environment. bank of america biggest percentage gain other the dow. leading financials higher. >> josh brown, buyer here? >> no. i actually on a technicality base list tell you that $10, can clear there with conviction, meaning high volume, and then retest and stay above. that's a really -- safe entry point to buy for a short term trade. under ten, i still there are there are too many sellers and your way. i would wait for that confirmation and think it is worth it. >> are you positive on any of the banks? you are negative on the overall market a little bit. >> we like -- we like and we are long. berkshire hathaway which is the largest holdser of wells fargo and very heavily leveraged to the at the same time thing most of the banks are. home building and mortgages. we would prefer to play through the b shares of berkshire than owning any of these banks outright. especially something
on the back of -- you know, just positive improvement in environment for the financials overall. steve saying that -- of the financials bank of america has the most eps leverage to bounce back in this environment. bank of america biggest percentage gain other the dow. leading financials higher. >> josh brown, buyer here? >> no. i actually on a technicality base list tell you that $10, can clear there with conviction, meaning high volume, and then retest and stay above. that's a...
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Nov 20, 2012
11/12
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whitman said it would be a fix and rebuild year in a worsening macroeconomic environment. she said to expect a broad based profit decline across most businesses, but especially in enterprise services where revenue would drop 11% to 13%. operating margins near zero. that set as 24rethreshold for everything else. hp needs to keep the other business declines in the mid single digits or it will look like the turn around will take longer to turn up. >> joining us is stephanie link at the street.com. thanks very much for joining us. plenty withere to pick up on. what do you think will happen with revenues? >> hi, ross. i think that there's a chance at least on on the bottom line that the company will meet and actually could even beat consensus just because of cost controls. so the headline print of earnings might be better than expected. but to your point of revenues, i definitely think they will be below plan. some are expecting as low as a billion miss. i don't know if it that's the case. but clearly with 50% of their total revenues being pcs and printers, they have problems n
whitman said it would be a fix and rebuild year in a worsening macroeconomic environment. she said to expect a broad based profit decline across most businesses, but especially in enterprise services where revenue would drop 11% to 13%. operating margins near zero. that set as 24rethreshold for everything else. hp needs to keep the other business declines in the mid single digits or it will look like the turn around will take longer to turn up. >> joining us is stephanie link at the...
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Nov 13, 2012
11/12
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>> the environment will dictate what, in fact, we'll do. each and every quarter we have to decide our dividend. we are very committed to the strong dividend we pay. not necessarily the yield that we pay, but to the strong dividend that we pay. so we've been over the course of many years now paying this very strong dividend despite the fact that it is a very large ratio. we have the ability to do that because we do not go to capital. in the four-plus decades we've been principally doing the business we do today, which is lending on new york real estate, we have not had any period, not a single quarter, in which we've had to go to capital as a result of losses that we took on loans. so our principle asset is multifamily loans, and we've not had to go to capital. we do it through earnings. we've had minimal losses over a long period of time. the very need for the building of capital is thwarted by the difference in our business model. >> it sounds like this fiscal cliff issue won't impact you paying this dividend. >> well, i cannot say what th
>> the environment will dictate what, in fact, we'll do. each and every quarter we have to decide our dividend. we are very committed to the strong dividend we pay. not necessarily the yield that we pay, but to the strong dividend that we pay. so we've been over the course of many years now paying this very strong dividend despite the fact that it is a very large ratio. we have the ability to do that because we do not go to capital. in the four-plus decades we've been principally doing...
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Nov 12, 2012
11/12
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this is a different retail environment. unfortunately when you look at where they're making their money now, 23% of the revenue is coming from clearance items. it was 15% in q-3. you're talking about a company that unfortunately they're drawing them in but they're drawing them in just on that clearance side. that's not good. >> all right. the euro, let's turn attention to currencies. euro bouncing off two month lows versus the u.s. dollar today after greek leaders approve a budget for 2013. does it mark a turnaround for the euro? todd gordon of aspen trading group with more. we're asking about a turnaround for the euro. it was sitting at 1.30 or so for such a long time. it's dropped a couple pennies. now talking about a turnashd. >> last week i came on the 5:00 p.m. show and said to buy 1.27. i think you take profits on that. take those 10 or 15 pips and buy lunch today for a veteran. i think we got to go the other side now. go short euro through the 1.27 level. greece has overcome two olympic sized hurdles. $13 trillion in
this is a different retail environment. unfortunately when you look at where they're making their money now, 23% of the revenue is coming from clearance items. it was 15% in q-3. you're talking about a company that unfortunately they're drawing them in but they're drawing them in just on that clearance side. that's not good. >> all right. the euro, let's turn attention to currencies. euro bouncing off two month lows versus the u.s. dollar today after greek leaders approve a budget for...
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Nov 20, 2012
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they'd like to know what environment they're operating in. they effect them personally and the families of the people that work for them. >> can you get a franchise alone? is it easier than it was a year ago? >> yeah, credit market has loosened up a bit for our franchisees and we're fortunate our model in the investment on the investment side that we don't have to be highly leveraged and our franchisees don't have to be highly leveraged going in. they're able to pay investment out of cash but whenner this borrow money they're getting sba loans out there, smaller banks but it is tougher and it affects their growth. that's for sure. >> the smell is killing me here, i mean in a good way. it's 5:00 somewhere or noon somewhere. bob wright, thank you. we appreciate your time this morning and keep it short. >> are you going for the sub? which way? >> i don't know. >> i could eat it but i know he's an ohio state fan. go blue this weekend. i'm going to holdoff. >>> when we come back we'll talk about betting on a deal to avoid the fiscal cliff. caesar'
they'd like to know what environment they're operating in. they effect them personally and the families of the people that work for them. >> can you get a franchise alone? is it easier than it was a year ago? >> yeah, credit market has loosened up a bit for our franchisees and we're fortunate our model in the investment on the investment side that we don't have to be highly leveraged and our franchisees don't have to be highly leveraged going in. they're able to pay investment out...
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Nov 16, 2012
11/12
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i think dividend payers will continue to work in what i see as a bond friendly environment for the economy. >> if the dividend rate does change and it is impactful to the change, empirical data shows that 3 months to 6 months they underperform non-dividend payers by 50%. >> grasso, do you have trades on it? >> i bought wynn for a growth story, not a special dividend. what's important to viewers is to know that once it goes ex-div, they do not have to hold it until the payable date. if they're trading off this, it is one thing. if they're investing off this, totally different. the dividend plays, 402 out of 500 s&p companies pay a dividend, the most since '99. any change to the dividend status is impactful to the overall market. >> what's your microsoft? watch out for that. >> more on the market move, moving higher. plus casino company makes a huge bet and it is paying off for shareholders today. so will others follow suit. lots more halftime report straight ahead. [ female announcer ] the next generation of investing technology is now within your grasp with the e-trade 360 investing dashbo
i think dividend payers will continue to work in what i see as a bond friendly environment for the economy. >> if the dividend rate does change and it is impactful to the change, empirical data shows that 3 months to 6 months they underperform non-dividend payers by 50%. >> grasso, do you have trades on it? >> i bought wynn for a growth story, not a special dividend. what's important to viewers is to know that once it goes ex-div, they do not have to hold it until the payable...
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Nov 13, 2012
11/12
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so i think tjt works really well in this environment, as i've called it before. it is the discount retailer that doesn't make you feel miserable for shopping there. so i agree -- >> how about this notion, josh, and let's respect the technicals, and the work that enis does. if jcpenney is due for a technical pop, why not buy it as the stock sinks? >> because it's not due for a technical pop. it hasn't happened yet. >> you're crazy. >> what you're saying is it's very stretched out to the downside and oversold. that's fine, but that can remain for a while. if you're a short-term day trader, sure, why not. but if you're looking at that as an investment, i don't see why it's worth risking to make a 5% one-day pop. >> i'll say this. i'll say this, scott. everyone here is bearish except me. so maybe that gives you a bit of a -- >> that's all right. that's what makes a market. next on half, facebook continues to lose friends. how you should be trading that stock ahead of millions of shares flooding the market tomorrow. plus, stocks rallying a bit today, but so are bonds.
so i think tjt works really well in this environment, as i've called it before. it is the discount retailer that doesn't make you feel miserable for shopping there. so i agree -- >> how about this notion, josh, and let's respect the technicals, and the work that enis does. if jcpenney is due for a technical pop, why not buy it as the stock sinks? >> because it's not due for a technical pop. it hasn't happened yet. >> you're crazy. >> what you're saying is it's very...
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Nov 14, 2012
11/12
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when we bought it just superior business model in a tough environment. if things get better, great, employment improves, we're going to have more hook-ups, housing improves, more connections, great growth story. if things don't get better, we're trying to protect for the downside and keep that optionalty if the economy improves. comcast could be a monster return on capital going forward. and that's been a big core holding for quite a while, as well. >> no kidding, you've done well -- you bought it down in the low 20s? >> i don't know the actual cost price in front of me. i can tell you it's been one of our big holdings for a couple of years. home depot and lowe's we bought at the end of '11. we had a thesis that housing was bottoming. and now the housing improvement is accelerating and that's a big deal for the u.s. economy when you think about the spillover effect in construction jobs, you know, furniture, auto, cement, everything that comes with household formation in new home purchases. >> well, we want to thank you for joining us today. >> my pleasur
when we bought it just superior business model in a tough environment. if things get better, great, employment improves, we're going to have more hook-ups, housing improves, more connections, great growth story. if things don't get better, we're trying to protect for the downside and keep that optionalty if the economy improves. comcast could be a monster return on capital going forward. and that's been a big core holding for quite a while, as well. >> no kidding, you've done well -- you...
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Nov 15, 2012
11/12
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we'll ask a top ranked analyst how investors in fiscal cliffs should be playing the current environment when squawk returns. >>> many sectors of the economy would be directly affected if the u.s. economy goes off the fiscal cliff. not the least of which, the financials. we were talking about the white house and the meeting that happened yesterday. only ken chenault, of all the financials, and i don't know if you put him in the traditional category, not a classic wall street guy, is that a problem? >> i think that was an omission, there were no large commercial bankers or wall street bankers in that meeting yesterday. so i thought that was quite interesting that the white house chose not to invite anyone. >> where are you on on financials right now? the stocks have come off. it's been a horrific little ride here. >> it has. the bank stocks have been one of the best performing sectors going into the third quarter. they're up over 20%. they've been one of the weakest sectors since the third quarter results. and i think what's happened is this fiscal cliff has everybody concerned especially
we'll ask a top ranked analyst how investors in fiscal cliffs should be playing the current environment when squawk returns. >>> many sectors of the economy would be directly affected if the u.s. economy goes off the fiscal cliff. not the least of which, the financials. we were talking about the white house and the meeting that happened yesterday. only ken chenault, of all the financials, and i don't know if you put him in the traditional category, not a classic wall street guy, is...
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Nov 13, 2012
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shops in this consolidated apple like checkout, iphone, anyone can check you out, it's efficient, nice environment. it's the apple store customer interface combined with the best brands of the world in a small geography. we had $250 a square foot in sales with the traffic down 12%. >> for your sake and for ron johnson's sake i hope this works and i love a great come back story. >> i want to leave our viewers with one thing. the biggest problem people have with something like this, how can i own a stock when the sales are down 26%? i'll make one analogy and help people think about how to value this company. we took a stake in wendy's, why did people not like wendy's? i get a chance we come back after a commercial, i'm happy to stay. >> i think we're going. >> give me one minute and i'm happy to come back another time. wendy's, people hated the management, there was a fast growing company called tim horton's inside wendys. we separated and the stock doubled. we have this fast growing retail inside jcpenney, profitable and high margins and the rest of jcpenney is shrinking. it's hard to look at it on
shops in this consolidated apple like checkout, iphone, anyone can check you out, it's efficient, nice environment. it's the apple store customer interface combined with the best brands of the world in a small geography. we had $250 a square foot in sales with the traffic down 12%. >> for your sake and for ron johnson's sake i hope this works and i love a great come back story. >> i want to leave our viewers with one thing. the biggest problem people have with something like this,...
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Nov 19, 2012
11/12
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technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. >>> hard rock international is teaming up with yoko ono. and why hunger for the imagine there's no hunger campaign. horn $4.5 would million has been raised during the past five years and the president and ce off of the hard rock cafe has been very involved in this. tell us a little bit it. >> thanks for having me. this is a ram we've beprogram w running for many years. there are a billion people beneath poverty and hunger level in the world. and the program really is a program that enjoins why hunger, yoko ono and ourselves and we encourage our staff and our customers to basically provide funding around this holiday season so t
technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. >>> hard rock...